Lam Research Corporation (LRCX) Upgraded at Zacks Investment Research
Lam Research Corporation (NASDAQ:LRCX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Lam Research Corp. is a leading global provider of innovative wafer fabrication equipment and services to the semiconductor industry. The company reported better-than-expected fiscal fourth quarter 2017 results with both earnings and revenues surpassing our estimates. The results were driven by strong success in the areas of device architecture, process flow and advanced packaging technology inflections. Year to date, the stock has outperformed the industry it belongs to. The company has been improving on WFE market share significantly since 2013 and expects to continue making gains, going forward. At the same time, the persistent decline in the PC market, which is still the most important consumer of DRAMs, the competitive climate and currency effects remain concerns.”
Other research analysts have also issued reports about the stock. B. Riley reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Lam Research Corporation in a research note on Thursday, July 27th. DA Davidson reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Lam Research Corporation in a research note on Wednesday, July 26th. BidaskClub raised shares of Lam Research Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $189.00 price objective (up from $170.00) on shares of Lam Research Corporation in a research note on Monday, June 19th. Finally, Needham & Company LLC raised their price objective on shares of Lam Research Corporation from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, June 16th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Lam Research Corporation has an average rating of “Buy” and a consensus target price of $182.94.
Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.09. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the firm earned $1.80 earnings per share. The business’s quarterly revenue was up 51.6% compared to the same quarter last year.
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In related news, Director Stephen G. Newberry sold 750 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $185.00, for a total transaction of $138,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Timothy Archer sold 15,638 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $175.65, for a total transaction of $2,746,814.70. The disclosure for this sale can be found here. Insiders have sold 48,066 shares of company stock valued at $8,350,148 in the last 90 days. 0.41% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of LRCX. Eagle Asset Management increased its holdings in Lam Research Corporation by 5.0% during the third quarter. Eagle Asset Management now owns 43,772 shares of the semiconductor company’s stock worth $2,858,000 after buying an additional 2,065 shares during the last quarter. Trinity Street Asset Management purchased a new stake in Lam Research Corporation during the fourth quarter worth about $49,131,000. CIBC World Markets purchased a new stake in Lam Research Corporation during the fourth quarter worth about $1,042,000. Capstone Asset Management Company increased its holdings in Lam Research Corporation by 51.6% during the fourth quarter. Capstone Asset Management Company now owns 19,411 shares of the semiconductor company’s stock worth $1,542,000 after buying an additional 6,608 shares during the last quarter. Finally, Juncture Wealth Strategies increased its holdings in Lam Research Corporation by 10.7% during the fourth quarter. Juncture Wealth Strategies now owns 14,671 shares of the semiconductor company’s stock worth $1,165,000 after buying an additional 1,420 shares during the last quarter. Institutional investors and hedge funds own 93.96% of the company’s stock.
Lam Research Corporation Company Profile
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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